Billionaire Quek Leng Chans GuocoLand Sells 84% Of Singapore Condo Project Over The Weekend

These outlets are especially popular during major festivals such as Chinese New Year. Located to the east of the Central Catchment Nature Reserve (CCNR), the 50ha park is unique for its rich cultural heritage as the site of a former Hainan Village. It is also home to a diverse range of fauna, including the critically endangered Raffles’ Banded Langur (Presbytis femoralis femoralis). The NSC will be Singapore’s longest Transit Priority Corridor spanning 21.5 km and when completed in 2027, it will connect the northern region to the city and East Coast Parkway, traversing areas such as Ang Mo Kio, Bishan and Toa Payoh. When the TEL is fully operational, it will offer residents direct access to places such as Orchard Road, Great World City, Shenton Way, Gardens by the Bay, Tanjong Katong, and all the way to Changi Airport.

The average rental yield is 2.86% and is higher than the district average of 2.83%. I’d expect them to sell also about 20% higher than One North Eden which averaged about $2,000 psf at launch. Testament to the high growth potential of the area, these land plots, a year apart from the One North Eden site, had a 20% higher land bid price.

Guocoland bought the Lentor Modern site for S$784 million in July last year in a hotly contested state land auction that attracted bids from 10 real estate companies. Developers have been aggressively bidding at government auctions as well as offering to buy existing condominiums for redevelopment to replenish their landbank amid robust housing demand in the city-state. Expected to be completed in 2026, Lentor Modern residents will have direct access to the Lentor MRT station. The development is also integrated into a shopping mall, which will offer a range of retail and F&B outlets as well as a supermarket and childcare center.

Nestled near Lentor MRT, the condo provides residents with lots of benefits that boost their total well being. With nearby leasehold Mayfair collection transacting at around $2,100 psf on average, I’d expect this mega integrated project to command a 10-15% premium and average about $2,300 – $2,400 psf. Including the other empty residential land plots, there is a potential total of 11 new projects upcoming. There is lentor residence price where developers are giving an 8% discount off the list prices. The developer of Lentor Hill Residence is experienced in the real estate industry and has a proven track record of success. This ensures that buyers can be confident in the quality and craftsmanship of the development.

One-bedroom apartments of about 527 square feet (49 square meters) were sold for S$1.07 million ($760,000), while the four-bedroom units measuring as much as 1,528 square feet went for S$3.33 million. “The recent tender closing of the land parcel at Lentor Central created some buzz in the market for setting the new price record for a government land sales site in the Outside Central Region. The site was sold at $784.1 million or $1,204 psf per plot ratio, showing signs of pent-up demand for land and developers’ confidence in the potential of Lentor area,” says Mak.